Arizona Administrative Code
Title 15 - REVENUE
Chapter 4 - Department of Revenue - Property Tax
Article 1 - PROPERTY VALUATION
Section R15-4-103 - Prorating Value for Classification Purposes
Universal Citation: AZ Admin Code R 15-4-103
Current through Register Vol. 30, No. 38, September 20, 2024
A. If the assessor determines that a parcel of property should have more than one assessment ratio due to multiple uses under A.R.S. § 42-15010, the assessor shall:
1. Calculate the
assessment ratios according to subsections (B) and (C), and
2. Apply the ratios to the full cash value of
the entire parcel.
B. For secondary tax purposes, the assessor shall calculate separate assessment ratios for land and improvements.
1. The
assessment ratio for land is calculated by taking the full cash value of the
land in each class divided by the total full cash value of the land. The
resultant quotient for each class is then multiplied by the assessment ratio
for the class. The sum of these products is the ratio for the land.
2. The assessment ratio for improvements is
calculated by taking the full cash value of the improvements in each class
divided by the total full cash value of the improvements. The resultant
quotient for each class is then multiplied by the assessment ratio for the
class. The sum of these products is the assessment ratio for
improvements.
C. For primary tax purposes, the assessor shall calculate a single assessment ratio to apply to the limited value. The single assessment ratio is the sum of the factors calculated in subsections (C)(1) and (C)(2).
1. The full cash value of the land is divided
by the total full cash value of land and improvements. The resultant quotient
is then multiplied by the assessment ratio for land as calculated in subsection
(B)(1).
2. The full cash value of
improvements is divided by the total full cash value of land and improvements.
The resultant quotient is then multiplied by the assessment ratio for
improvements as calculated in subsection (B)(2).
Disclaimer: These regulations may not be the most recent version. Arizona may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
